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How Much House Can I Afford?

Determine how much house you can afford. Estimate the mortgage amount that best fits your budget with our new house calculator. Find out what factors determine home affordability.

2. Debt and monthly expenses.

4. Down payment amount.

Simply fill out the fields below and click on calculate. The calculator will then analyze your monthly income, expenses, and future property taxes and insurance to estimate the mortgage amount that would best fit your budget. Learn more about what factors lenders consider here.

Available Mortgage Limits:

Home Buyer Resources

How much money can I borrow for a mortgage?

Use this calculator to figure out how much money you can borrow.

Ready to stop renting and buy a home?

Thinking of buying a home? Consider these factors before making your decision.

5 first-time homebuyer mistakes

Avoid these common mistakes when buying your first home.

How much house can you buy?

Mortgage lenders calculate affordability based on your personal information, including income, debt expenses and size of down payment. The mortgage calculator uses similar criteria.

Here are some of the factors that lenders consider.

Debt-to-income ratios

Lenders will calculate how much of your monthly income goes toward debt payments. This calculation is called a debt-to-income ratio.

Debt-to-income ratio

Percentage of monthly income that is spent on debt payments, including mortgages, student loans, auto loans, minimum credit card payments and child support.

For example: Jessie and Pat together earn $10,000 a month. Their total debt payments are $3,800 a month. Their debt-to-income ratio is 38 percent.

$3,800 / $10,000 = 0.38

Front-end ratio

A standard rule for lenders is that your monthly housing payment (principal, interest, taxes and insurance) should not take up more than 28 percent of your income before taxes. This debt-to-income ratio is called the housing ratio or front-end ratio.

Back-end ratio

Lenders also calculate the back-end ratio. It includes all debt commitments, including car loan, student loan and minimum credit card payments, together with your house payment. Lenders prefer a back-end ratio of 36 percent or less.

That’s been one of the bigger drivers (of affordability) because that is basically drawing a box around what’s a qualified mortgage, says Tim Skinner, home lending sales and service manager for Huntington Bank in Columbus, Ohio. A large portion of the lending community has decided to stay in that box.

Credit history

If you have a good credit history, you are likely to get a lower interest rate, which means you could take on a bigger loan. The best rates tend to go to borrowers with credit scores of 740 or higher.

Down payment

With a larger down payment, you will likely need to take on a smaller loan and can afford to buy a higher-priced house.

Down payment

Money from your savings that you give to the home’s seller. A mortgage pays the rest of the purchase price. It’s usually expressed as a percentage: On a $100,000 home, a $13,000 down payment would be 13 percent.

You don’t need to have a perfect credit score or a 20 percent down payment to qualify for a mortgage. Some lenders will accept down payments as small as 3 percent. Federal Housing Administration-insured mortgages have a minimum down payment of 3.5 percent.

Lifestyle factors

While the lender’s guidelines are a good place to start, consider how your lifestyle affects how much of a mortgage you can take on. For instance, if you send your children to a private school, that is a major expense that lenders don’t typically account for. Or maybe you like to spend a lot on dining out or clothes. And if you live in a city with good public transportation, such as San Francisco or New York, and are able to rely on public transportation, you can likely afford to spend more on housing.

Consider all your options

Look into various state government programs that provide certain concessions, especially for first-time homebuyers. There also are programs that you might qualify for based on your income or occupation. You may be able to get assistance with your down payment so you can take on a smaller loan.

Nikitra Bailey, executive vice president for the Center for Responsible Lending in Durham, North Carolina, says, A lot of creditworthy borrowers have been unable to secure mortgages in the tighter mortgage environment. We are hopeful that these efforts will open up credit for borrowers who are deserving so that we will see an increase in first-time homebuyers going forward.

Don’t overload yourself

Be careful. It’s wise to give yourself breathing room financially. You don’t have to deplete your savings, and you don’t have to make the maximum monthly payment that you qualify for.

Why is it wise to spend less than you can afford? As a homeowner, you will face unexpected expenses, such as a leaky roof or a failed water heater. You will have to pay for maintenance. You might even face a job loss.

When gas prices started to go up (during the housing downturn) and people were maxed out on their homes, that’s when we started seeing a lot of the defaults happen, says Kathy Cummings, homeownership solutions and education executive for Bank of America. There were a lot of other economic factors going into it, but if you are maxing yourself out on your home, you can’t absorb some of those impacts.

TIP: Refinancing and stretching the loan out for the longest possible term will help free up cash flow, but drawbacks include paying more interest and building less equity.

can i get a home loan

This Loan Payment Calculator computes an estimate of the size of your monthly loan payments and the annual salary required to manage them without too much financial difficulty. This loan calculator can be used with Federal education loans (Stafford, Perkins and PLUS) and most private student loans. (This student loan calculator can also be used as an auto loan calculator or to calculate your mortgage payments.)

This loan calculator assumes that the interest rate remains constant throughout the life of the loan. The Federal Stafford Loan has a fixed interest rate of 6.8% and the Federal PLUS loan has a fixed rate of 7.9%. (Perkins loans have a fixed interest rate of 5%.)

This loan calculator also assumes that the loan will be repaid in equal monthly installments through standard loan amortization (i.e., standard or extended loan repayment). The results will not be accurate for some of the alternate repayment plans, such as graduated repayment and income contingent repayment.

Loan fees are used to adjust the initial loan balance so that the borrower nets the same amount after the fees are deducted.

Some educational loans have a minimum monthly payment. Please enter the appropriate figure ($50 for Stafford Loans, $40 for Perkins Loans and $50 for PLUS Loans) in the minimum payment field. Enter a higher figure to see how much money you can save by paying off your debt faster. It will also show you how long it will take to pay off the loan at the higher monthly payment. You can also calculate private student loan eligibility on comparison sites like Credible.

The questions concerning enrollment status, degree program and total years in college are optional and are designed to evaluate whether the total debt is excessive. The total years in college should include the total number of years in college so far (or projected) corresponding to the loan balance, including previous degrees received.

How Much House Can I Afford?

Determine how much house you can afford. Estimate the mortgage amount that best fits your budget with our new house calculator. Find out what factors determine home affordability.

2. Debt and monthly expenses.

4. Down payment amount.

Simply fill out the fields below and click on calculate. The calculator will then analyze your monthly income, expenses, and future property taxes and insurance to estimate the mortgage amount that would best fit your budget. Learn more about what factors lenders consider here.

Available Mortgage Limits:

Home Buyer Resources

How much money can I borrow for a mortgage?

Use this calculator to figure out how much money you can borrow.

Ready to stop renting and buy a home?

Thinking of buying a home? Consider these factors before making your decision.

5 first-time homebuyer mistakes

Avoid these common mistakes when buying your first home.

How much house can you buy?

Mortgage lenders calculate affordability based on your personal information, including income, debt expenses and size of down payment. The mortgage calculator uses similar criteria.

Here are some of the factors that lenders consider.

Debt-to-income ratios

Lenders will calculate how much of your monthly income goes toward debt payments. This calculation is called a debt-to-income ratio.

Debt-to-income ratio

Percentage of monthly income that is spent on debt payments, including mortgages, student loans, auto loans, minimum credit card payments and child support.

For example: Jessie and Pat together earn $10,000 a month. Their total debt payments are $3,800 a month. Their debt-to-income ratio is 38 percent.

$3,800 / $10,000 = 0.38

Front-end ratio

A standard rule for lenders is that your monthly housing payment (principal, interest, taxes and insurance) should not take up more than 28 percent of your income before taxes. This debt-to-income ratio is called the housing ratio or front-end ratio.

Back-end ratio

Lenders also calculate the back-end ratio. It includes all debt commitments, including car loan, student loan and minimum credit card payments, together with your house payment. Lenders prefer a back-end ratio of 36 percent or less.

That’s been one of the bigger drivers (of affordability) because that is basically drawing a box around what’s a qualified mortgage, says Tim Skinner, home lending sales and service manager for Huntington Bank in Columbus, Ohio. A large portion of the lending community has decided to stay in that box.

Credit history

If you have a good credit history, you are likely to get a lower interest rate, which means you could take on a bigger loan. The best rates tend to go to borrowers with credit scores of 740 or higher.

Down payment

With a larger down payment, you will likely need to take on a smaller loan and can afford to buy a higher-priced house.

Down payment

Money from your savings that you give to the home’s seller. A mortgage pays the rest of the purchase price. It’s usually expressed as a percentage: On a $100,000 home, a $13,000 down payment would be 13 percent.

You don’t need to have a perfect credit score or a 20 percent down payment to qualify for a mortgage. Some lenders will accept down payments as small as 3 percent. Federal Housing Administration-insured mortgages have a minimum down payment of 3.5 percent.

Lifestyle factors

While the lender’s guidelines are a good place to start, consider how your lifestyle affects how much of a mortgage you can take on. For instance, if you send your children to a private school, that is a major expense that lenders don’t typically account for. Or maybe you like to spend a lot on dining out or clothes. And if you live in a city with good public transportation, such as San Francisco or New York, and are able to rely on public transportation, you can likely afford to spend more on housing.

Consider all your options

Look into various state government programs that provide certain concessions, especially for first-time homebuyers. There also are programs that you might qualify for based on your income or occupation. You may be able to get assistance with your down payment so you can take on a smaller loan.

Nikitra Bailey, executive vice president for the Center for Responsible Lending in Durham, North Carolina, says, A lot of creditworthy borrowers have been unable to secure mortgages in the tighter mortgage environment. We are hopeful that these efforts will open up credit for borrowers who are deserving so that we will see an increase in first-time homebuyers going forward.

Don’t overload yourself

Be careful. It’s wise to give yourself breathing room financially. You don’t have to deplete your savings, and you don’t have to make the maximum monthly payment that you qualify for.

Why is it wise to spend less than you can afford? As a homeowner, you will face unexpected expenses, such as a leaky roof or a failed water heater. You will have to pay for maintenance. You might even face a job loss.

When gas prices started to go up (during the housing downturn) and people were maxed out on their homes, that’s when we started seeing a lot of the defaults happen, says Kathy Cummings, homeownership solutions and education executive for Bank of America. There were a lot of other economic factors going into it, but if you are maxing yourself out on your home, you can’t absorb some of those impacts.

TIP: Refinancing and stretching the loan out for the longest possible term will help free up cash flow, but drawbacks include paying more interest and building less equity.

Affordability calculator

See how much refinancing can save you

Affordability calculator help

“How much house can I afford?” is a question we hear frequently from those looking to purchase a new home. The mortgage you can afford depends on many factors, including your target monthly payment, annual income, and down payment amount.

Zillow’s mortgage affordability calculator helps you determine what you can comfortably afford to pay based on your personal circumstances. It evaluates the percentage of your monthly income that goes toward existing debts to help identify how much extra you have to spend on a mortgage payment. Your remaining income after debt and taxes should be enough to cover living expenses and savings goals, and it is wise to have some cash set aside to accommodate any unexpected repairs or financial emergencies.

Annual income This is the combined annual income for you and your co-borrower. Include all income before taxes, including base salary, commissions, bonuses, overtime, tips, rental income, investment income, alimony, child support, etc. Down payment This is the amount of money you will put towards a down payment on the house. Make sure you still have cash left over after the down payment to cover unexpected repairs or financial emergencies. Monthly debt

Include all of you and your co-borrower’s monthly debts, including: minimum monthly required credit card payments, car payments, student loans, alimony/child support payments, any house payments (rent or mortgage) other than the new mortgage you are seeking, rental property maintenance, and other personal loans with periodic payments.

Do NOT include: credit card balances you pay off in full each month, existing house payments (rent or mortgage) that will become obsolete as a result of the new mortgage you are seeking, or the new mortgage you are seeking.

Interest rate This is the interest rate for the loan you will receive. It is pre-filled with the current 30-yr fixed average rate on Zillow Mortgages. Debt-to-income (DTI) Your DTI is expressed as a percentage and is your total “minimum” monthly debt divided by your gross monthly income. The conventional limit for DTI is 36% of your monthly income, but this could be as high as 41% for FHA loans. A DTI of 20% or below is considered excellent. Income taxes This is an annual tax that governments place on individuals’ income. It includes federal tax, most states and some local entities. The national average is around 30% but can vary based on income, location, etc. Property taxes The mortgage payment calculator includes estimated property taxes. The value represents an annual tax on homeowners’ property and the tax amount is based on the home’s value. Homeowners insurance Commonly known as hazard insurance, most lenders require insurance to provide damage protection for your home and personal property from a variety of events, including fire, lightning, burglary, vandalism, storms, explosions, and more. All homeowner’s insurance policies contain personal liability coverage, which protects against lawsuits involving injuries that occur on and off your property. Mortgage insurance (PMI) Mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the home’s purchase price. It protects lenders against some or most of the losses that can occur when a borrower defaults on a mortgage loan. Also known as PMI (Private Mortgage Insurance). HOA dues Typically, owners of condos or townhomes are required to pay homeowners association dues (known as HOA fees), to cover common amenities or services within the property such as garbage collection, landscaping, snow removal, pool maintenance, and hazard insurance. Loan term This is the length of time you choose to pay off your loan (e.g. 30 years, 20 years, 15 years, etc.) Full report Click on the Full Report link to see a printable report that includes mortgage payment breakdowns, total payments, and a full mortgage payment amortization calculation (table and chart). Amortization table includes ability to view amortization by year or by month.

Mortgage Learning Center

Searching for your new home?

Pre-approval ensures you’re ready to make an offer when you find the perfect one.

How Much House Can I Afford?

Home Buyer Resources

How much house can you buy?

Mortgage lenders calculate affordability based on your personal information, including income, debt expenses and size of down payment. The mortgage calculator uses similar criteria.

Here are some of the factors that lenders consider.

Debt-to-income ratios

Lenders will calculate how much of your monthly income goes toward debt payments. This calculation is called a debt-to-income ratio.

Debt-to-income ratio

Percentage of monthly income that is spent on debt payments, including mortgages, student loans, auto loans, minimum credit card payments and child support.

Debt payments / income

For example: Jessie and Pat together earn $10,000 a month. Their total debt payments are $3,800 a month. Their debt-to-income ratio is 38 percent.

$3,800 / $10,000 = 0.38

Front-end ratio

A standard rule for lenders is that your monthly housing payment (principal, interest, taxes and insurance) should not take up more than 28 percent of your income before taxes. This debt-to-income ratio is called the housing ratio or front-end ratio.

Back-end ratio

Lenders also calculate the back-end ratio. It includes all debt commitments, including car loan, student loan and minimum credit card payments, together with your house payment. Lenders prefer a back-end ratio of 36 percent or less.

That’s been one of the bigger drivers (of affordability) because that is basically drawing a box around what’s a qualified mortgage, says Tim Skinner, home lending sales and service manager for Huntington Bank in Columbus, Ohio. A large portion of the lending community has decided to stay in that box.

Credit history

If you have a good credit history, you are likely to get a lower interest rate, which means you could take on a bigger loan. The best rates tend to go to borrowers with credit scores of 740 or higher.

Down payment

With a larger down payment, you will likely need to take on a smaller loan and can afford to buy a higher-priced house.

Down payment

Money from your savings that you give to the home’s seller. A mortgage pays the rest of the purchase price. It’s usually expressed as a percentage: On a $100,000 home, a $13,000 down payment would be 13 percent.

You don’t need to have a perfect credit score or a 20 percent down payment to qualify for a mortgage. Some lenders will accept down payments as small as 3 percent. Federal Housing Administration-insured mortgages have a minimum down payment of 3.5 percent.

Lifestyle factors

While the lender’s guidelines are a good place to start, consider how your lifestyle affects how much of a mortgage you can take on. For instance, if you send your children to a private school, that is a major expense that lenders don’t typically account for. Or maybe you like to spend a lot on dining out or clothes. And if you live in a city with good public transportation, such as San Francisco or New York, and are able to rely on public transportation, you can likely afford to spend more on housing.

Consider all your options

Look into various state government programs that provide certain concessions, especially for first-time homebuyers. There also are programs that you might qualify for based on your income or occupation. You may be able to get assistance with your down payment so you can take on a smaller loan.

Nikitra Bailey, executive vice president for the Center for Responsible Lending in Durham, North Carolina, says, A lot of creditworthy borrowers have been unable to secure mortgages in the tighter mortgage environment. We are hopeful that these efforts will open up credit for borrowers who are deserving so that we will see an increase in first-time homebuyers going forward.

Don’t overload yourself

Be careful. It’s wise to give yourself breathing room financially. You don’t have to deplete your savings, and you don’t have to make the maximum monthly payment that you qualify for.

Why is it wise to spend less than you can afford? As a homeowner, you will face unexpected expenses, such as a leaky roof or a failed water heater. You will have to pay for maintenance. You might even face a job loss.

When gas prices started to go up (during the housing downturn) and people were maxed out on their homes, that’s when we started seeing a lot of the defaults happen, says Kathy Cummings, homeownership solutions and education executive for Bank of America. There were a lot of other economic factors going into it, but if you are maxing yourself out on your home, you can’t absorb some of those impacts.

Home Buying in Kensington & Parkville Question Details

I am looking for the best mortgage program for teachers. Would anyone have a recommendation?

I value your feedback. Please hit the thumbs up tab if my reply was helpful. All the best.

2 votes Thank Flag Link Mon Mar 11, 2013

Contact

Hello, I found a few teacher programs, simply click on the direct link below that will take you to the page you need to read about the loan programs.

United Federation of Teachers (they list many discount mortgage programs for teachers) http://www.uft.org/our-benefits/mortgage-discounts

I hope this information helped you.

1 vote Thank Flag Link Tue Mar 12, 2013

Contact

Teachers who belong to unions (all 50 states) are provided member benefits from their unions and their union partners with 1 or more lenders who will provide discounts and/or additional services for union members. Most mortgage lenders don t know about this and can t compete because they did not partner with the union.

Married to a teacher.

0 votes Thank Flag Link Wed Dec 2, 2015

I didn’t indicate the USDA program was “specifically” reserved only for teachers. I just said it continues to be a popular option for Teachers seeking 100% financing.

Refinance Calculator – Should I Refinance My Mortgage?

Whenever interest rates drop, the appeal of refinancing your mortgage grows. But it’s important to know the real costs — and potential savings — before making a move.

To help, U.S. News has teamed up with HSH.com, a leading publisher of mortgage and consumer loan information, to offer this easy-to-use, interactive refinancing worksheet. Homeowners can see how their existing mortgage payments might change if they were to refinance, and, just as important, how long it would take to recover any closing costs associated with refinancing.

Instructions. Just fill in the non-colored boxes with the requested information. As you tab or mouse-click through the boxes, your results will appear automatically in the colored boxes. You can change any of your entries, in case you want to try several different scenarios, but you must tab or mouse-click to another box to update your results. To use the worksheet, JavaScript must be enabled on your browser.

MORTGAGE REFINANCE CALCULATOR

What does this possibly mean for me?

Based on the information you provided, the amount above can give you an idea of the estimated monthly reduction in your payment you could achieve by refinancing your existing mortgage at the terms you selected. It’s important to consider upfront closing costs on your new loan, and the time it will take to recoup those costs. Note that some of the reduction in payments may reflect extending the due date on your loan rather than a lower interest rate. If your refinance is at a lower rate than the previous loan, you may save money if you continue making the same or higher payments. If you lower your payments too, however, you may pay higher total interest even though your rate is lower, because the debt is extended over a longer period.

You selected an adjustable rate mortgage or ARM. The amount above can give you an idea of the estimated monthly reduction in your mortgage payment you could achieve during the initial, fixed rate portion of your loan period* by refinancing your existing mortgage at the terms you selected. It’s important to consider upfront closing costs on your new loan, and the time it will take to recoup those costs. In addition, you may want to discuss with a Discover mortgage banker any potential effects of changing from extending the term of your loan(s). Note that some of the reduction in payments may reflect extending the due date on your loan rather than a lower interest rate.

Call our helpful mortgage bankers at 1-888-866-1212 to start the conversation about whether refinancing is right for you.

* For example, for a 5/1 ARM, the fixed rate period is 5 years, or 60 months. After the fixed rate period, your payment may change based on the change in the index used to calculate your interest rate.

Sorry! We re unable to calculate your result.

Ultimate Mortgage Calculator New!

Be aware that your credit score also has a big impact read MSE’s Credit Rating guide for further details. Also note that this calculation is mainly for people who are employed sadly, for the self-employed, it’s more difficult.

A mortgage at <> at 3% over 25 years would cost you <> per month ( <>% of your pre-tax income).

Likely range of mortgage

The nitty gritty on lenders

Lenders typically cap the loan-to-income ratio at around four-and-a-half times your annual salary, which is the upper limit in the red on the bar chart below.

Assuming you don’t have existing debts and a clear credit rating you should have no difficulty in securing a mortgage in green .

Important! Remember, lenders will also assess your outgoings, including any loan agreements and credit card repayments, child maintenance payments, school fees and other bills to work out how much they’ll lend. If you’re a few months away from applying, try to budget as if you�re already paying mortgage payments, as lenders will want evidence from your outgoings that you can afford to repay. If you haven’t already, do a budget .

IMPORTANT! Please read.

This information is computer-generated and relies on certain assumptions. It has only been designed to give a useful general indication of costs.

It’s important you always get a specific quote from the lender and double-check the price yourself before acting on the information. We cannot accept responsibility for any errors (please report faults above).

Assumptions

In order to create these results, we have had to make a few assumptions:

1) Interest is charged monthly.

2) Interest rate stays the same over the term.

3) If you selected ‘Interest only’, we assume your standard monthly payment doesn’t decrease even if you pay off some of the balance.

Martin’s FREE Printed Mortgage Help Booklets

First Time Buyers Guide Printed or PDF

Remortgaging Guide Printed or PDF

Online Mortgage Guides

How this site works

We think it’s important you understand the strengths and limitations of the site. We’re a journalistic website and aim to provide the best MoneySaving guides, tips, tools and techniques, but can’t guarantee to be perfect, so do note you use the information at your own risk and we can’t accept liability if things go wrong.

This info does not constitute financial advice, always do your own research on top to ensure it’s right for your specific circumstances and remember we focus on rates not service.

We don’t AS a general policy investigate the solvency of companies mentioned (how likely they are to go bust), but there is a risk any company can struggle and it’s rarely made public until it’s too late (see the section 75 guide for protection tips).

We often link to other websites, but we can’t be responsible for their content.

Always remember anyone can post on the MSE forums, so it can be very different from our opinion.

MoneySavingExpert.com is part of the MoneySupermarket Group, but is entirely editorially independent. Its stance of putting consumers first is protected and enshrined in the legally-binding MSE Editorial Code .

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Can I Get a HARP Refinance with a 2nd Mortgage?

San Diego, California One of the most common questions we get online today is in regards to HARP refinancing eligibility for people that have a second mortgage. The quick answer is YES, “The Home Affordable Refinance Program allows borrowers to refinance even if they have a 2 nd mortgage.” NO, you cannot combine a 1 st and 2 nd mortgage together in a HARP refinance, but they will allow you to subordinate your current second lien and refinance your underwater 1 st mortgage. So if you want to refinance under the HARP 2.0, your second mortgage lender must complete the subordination agreement. This makes choosing a HARP mortgage lender more important than ever, because you need to choose a company that has enough experience with the HARP 2.0 program that they handle the subordination end properly so that your loan will fund prior to your interest rate lock expiring. Get quotes from lenders offering mortgage pre-approvals that have experience subordinating with HARP 2.0.

In most cases the lender you choose for the new HARP refinance will do the work to get your 2 nd loan subordinated.

Of course it won’t hurt to let your 2 nd mortgage lender know that you are refinancing your 1 st lien and you will need their cooperation in the subordination process.

Ask how much they charge for the subordinating. (2 nd lenders fees will vary)

Find out if getting the check to the 2 nd lender upfront will streamline the process.

Unfortunately not all mortgage companies handle the subordination the same. If you are a hands’ on person who wants to help out then you need to know this up front. Most borrowers do not want to deal with this, so they let their HARP lender handle the process of subordinating the 2 nd mortgage. According to Pat O Connell of VIP Mortgage in Orange County, choosing lenders for HARP is important. “It is imperative that you feel confident that your lender can handle the subordination process, because the average loan company will drop the ball.”

Refinancing with HARP Can Save You Thousands of Dollars a Year!

If you want to refinance with HARP will save you money every month than most likely it will be worth it for you to move forward even if you have to deal with a subordinating a 2 nd loan. We suggest adding 15 days to your rate lock or floating the rate. For example, if you were refinancing with a 30-day lock, stretch it to 45-days if you have a second mortgage.

Today’s HARP rates have fallen to 3.5% (APR 3.74%) on thirty-year terms and 2.875% (APR 2.97%) on fifteen-year options. So use the rate calculators and do the math so you can determine how much you are saving. If you can save $600 a year then it is likely worth your time. If you are saving $2,000 or $3,000 a month like many of our clients then it is certainly worth the time. Take a few minutes and apply online for unique refinancing even if you have a 2 nd mortgage the option is available for a HARP refinance.